All About The Luggage Market In China

 6 Main Trends that are Driving the Industry Forward

China is the world’s largest consumer of luggage, with a total of 3 million tons produced per year. Most of the production comes from domestic companies, but international players are also making a dent in the market. The industry has been on a steady growth path for more than a decade and is expected to continue to do so as it continues to expand in China and abroad. Here are six main trends that are driving the luggage market forward.

What is the luggage market in China?

China’s luggage industry is projected to be a $6.2 billion market by 2019 and the number of domestic and international companies producing this product is growing.

The first trend that has emerged in the luggage market is the shift from high-end to low-end products. This means that more consumers are willing to purchase high-quality products that are durable, but are still affordable for them.

One example of this shift is how the popularity of luxury brands like Louis Vuitton has declined in China, while comparatively lower-priced brands such as Chanel and Gucci continue to grow in popularity. This shift has also given way to increased demand at cheaper prices for basic product types, like duffle bags, which have had a growth rate higher than 20 percent over the past five years.

Another trend driving the luggage market forward is the rise in online purchasing. Consumers no longer visit brick-and-mortar stores when they are looking for their next purchase; instead they choose to shop on websites or apps with a wide range of goods at competitive prices. In 2017 alone, Chinese consumers spent around $10 billion on these websites and apps.

A third trend driving the luggage market forward is rising disposable income levels among Chinese consumers. They now

6 main trends that are driving the industry forward

1. Domestic and foreign players are growing.

China is the world’s largest consumer of luggage, with a total of 3 million tons produced per year. Most of the production comes from domestic companies, but international players are also making a dent in the market. The industry has been on a steady growth path for more than a decade and is expected to continue to do so as it continues to expand in China and abroad. Here are six main trends that are driving the luggage market forward.

Why is luggage so important to China?

Luggage is the most important commodity for China’s economy. In fact, it’s the largest export and import item in the country. The international purse market has grown exponentially in recent years, with an estimated $1 trillion of global trade occurring over the past decade or so.

China has become a major player on the international stage thanks to its growing middle class and increasing economic power, which has led to a demand for luxury goods. For example, China is now one of the world’s leading luxury car markets .

Luggage helps different groups of people in various industries by transporting their belongings all over the world. It provides convenience and freedom to business travelers and helps leisure travelers who want to pack light while they travel. The luggage industry also creates employment opportunities across many different fields, from design to manufacturing to distribution, as well as many other related areas such as retail sales and marketing.

The versatility that luggage brings is also very important in China’s rapidly changing marketplace. Luggage is used by everyone from shoppers on Black Friday to grandparents carrying groceries home from Costco .

With more than 3 million tons being produced each year, it will be interesting how this trend continues moving forward.

How has the Chinese economy changed how travel is conducted in China?

The Chinese economy has changed how people travel. As the country’s economic growth has increased, there are more opportunities for individuals to travel. This means that travelers are traveling further and staying longer, which is changing how the luggage market operates. There are now a variety of different types of luggage options available for travelers to choose from, including carry-on size bags for flights, larger bags for those who want to do two or three weeks of backpacking in China, and even folding suitcases that can fit into a backpack or suitcase.

These changes have created new demand in the market and led to an increase in production rates and revenue as well. The industry has been on a steady growth path for more than a decade, with growth expected to continue as China continues to develop its infrastructure and allow more people access to travel opportunities.

From a low-cost, low-value market to a high-quality, high-value market

The luggage market in China has been on a steady growth path for more than 10 years, with demand and production increasing each year. In 2015, the industry produced 3 million tons—a number expected to increase by 5 percent annually.

But this growth is not just driven by domestic demand: international players are also making a dent in the market. In fact, international players have increased their share of the market to 12 percent, but they’re still behind domestic companies in terms of value and volume. The global population is growing, so it’s likely that foreign competitors will continue to grow as well as they expand geographically and introduce new products.

The industry has traditionally been based on low-cost, low-value products that consumers can find easily at high-volume stores and malls across China. However, because of the ability to produce high-quality goods at lower costs and high-end retailers worldwide, there’s no reason why consumers can’t expect higher quality and higher value products from those same stores in the near future.

Increasing acceptance of global brands

One of the most significant trends in the luggage industry is the expansion of global brands. In an effort to capitalize on a growing consumer demand for international products, these brands are looking for new channels to enter the market. The success of their efforts has been exponential, with global brands now accounting for more than 50% of Chinese luggage consumption.

As this trend continues, companies are focused on creating innovative products that will allow them to sell their goods in China and other countries around the world.

Many international companies have started manufacturing their products in China as well as importing from China or other countries and selling them domestically. This gives consumers access to a variety of different styles and prices with ease and convenience.

The rise of online shopping

The rise of online shopping is the most significant trend in the luggage market. With the advent of e-commerce, consumers can purchase virtually anything they want without ever leaving their homes. This trend will undoubtedly have a major impact on how people shop and purchase different types of goods, including luggage.

Online shopping accounts for over two-thirds (68%) of global retail sales, according to eMarketer. As online shopping continues to grow and become more popular, the industry is expecting it to take up an increasing share of the market.

The popularity of online shopping has led many companies to enter into new markets where there are fewer barriers to entry than traditional ones such as brick-and-mortar stores or competitors who already have a strong presence in those areas. That’s why companies like Samsonite are entering China through strategic partnerships with Alibaba-owned Tmall and JD.com, which will help them expand their reach and access new customers across Asia’s largest economy.

read more 

marketresearchlab

ecommercechina

China connexion 

Trends in China market

click here for more articles.